Kava released a yield-generating DeFi platform for Bitcoin and other assets

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Kava, the multi-asset DeFi platform, has released its first application: a yield-generating decentralized finance (DeFi) platform for bitcoin (BTC) and other non-Ethereum assets. It’s the first cross-chain money market to be hosted within its Cosmos SDK built blockchain. The application which is dubbed ‘Harvest’ will allow Kava blockchain traders to further capitalize on DeFi opportunities through its lending and borrowing functions.
What’s been a bullish during the past months, has seen innovations pivot toward decentralization and open architecture. Harvest, set to debut on Kava’s blockchain, has built its fundamentals on a similar infrastructure, aims to decentralize financial services. The platform will enable anyone to lend and borrow digital assets including BTC, XRP, BNB, BUSD, KAVA and USDX for an interest in return.
Traders who borrow or lend on the application will be paid out their interest plus the application’s governance token ‘HARD’. Version 1 of the software will provide Supply functionality and Version 2 is will provide. Borrow functionality and expanded governance.
The Harvest DeFi Lending Cross-Chain Architecture
Harvest is the first applications that will leverage Kava’s blockchain security for DeFi products. With the innovation majorly deriving its fundamentals from Kava, it will automatically integrate other functions such as Kava’s price-reference data from Chainlink oracles and the underlying bridges to facilitate cross-chain asset transfers.
This cross-chain architecture plays a pivotal role in giving Harvest access to any digital assets within the Kava blockchain network. The project is set to capitalize on the Kava-4 Mainnet upgrade where an expansion of the BEP3 Bridge will feature the support of BTC, BUSD and XRP amongst other cryptocurrencies. Ideally, all these digital assets will eventually be supported within the Harvest money market alongside Kava native assets such as USDX KAVA and HARD.
The Harvest application is a decentralized platform that is for anyone from anywhere. This open and permissionless platform facilitates integrations with financial market stakeholders in niches not limited to FinTech apps, Exchanges, and financial institutions. This category of financial service providers will be able to offer Harvest’s earning and borrowing opportunities, directly to their users.
Decentralized Governance
Recent DeFi movement shows that a governance token is essential to facilitate the growth of projects within this industry. The Harvest governance token ‘HARD’ will harmonize decentralized activities within its lending and borrowing ecosystem. This token allows Harvest traders who hold it to manage key metrics such as the digital assets to be featured and reward distribution within the network.
Moreover, HARD tokens will incentivize user participation and active governance on the Harvest application. Suppliers and Borrows stand to benefit by having more voice in the management of this Kava-built DeFi application. Harvest will also distribute 20% of the total amount of HARD tokens to Kava stakers over the next few years for providing security and other base-layer services to the Harvest application.
Brian Kerr, CEO and Co-Founder of Kava said, “Importantly, this foundation provides developers with the ability to quickly build applications on Kava’s open decentralized network while being able to leverage its security, cross-chain bridges, and other infrastructure that would otherwise cost millions and take years to develop independently.”

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